Crimson Tide (GB:TIDE) has released an update.
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Crimson Tide plc has announced that Ideagen Ltd will no longer pursue a takeover offer, focusing instead on other priorities. Despite this, Crimson Tide reported a 15% increase in revenue to £6.2m for the year ended 31 December 2023 and has returned to operational profitability, with a stable £5.8m in Annual Recurring Revenue. The company remains optimistic about future growth, supported by a robust balance sheet and pipeline opportunities.
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